Bitcoin Price Stabilizes Near $80,000 Amid ETF Inflows and Market Analysis
Bitcoin's price has stabilized near $80,000 after a significant weekly gain of $14,775 from August 17 to 23. According to Galaxy Research, this marks the largest single-week dollar gain in Bitcoin's history.
The price increase was driven by genuine buying pressure, with U.S. spot Bitcoin ETFs experiencing net inflows totaling $2.8019 billion over eight consecutive trading days from August 17 to 26.
Market analysts believe that breaking through the 'triple resistance zone' of $80,000 to $82,000 could unlock potential for further upside, mirroring historical bull market patterns following breakthroughs of long-term moving averages.